Finance & Economy

Repsol and Ravago plan to build the largest plant of polypropylene (PP) compounds for the automotive sector in Morocco. It will be installed in the free zone of Tangier and will be operational from 2023. The plant will have a production capacity of 18,500 tons per year to meet local …

Foreign direct investments (FDI) in the renewable energy sector between Morocco and Israel reached a total budget of MAD 10.2 billion, said Einat Levi, Mission to Morocco at Israel’s Foreign Affairs Ministry. The FDI initiative was launched in Morocco by the Israeli Gandyr group in partnership with Gaia Energy Maroc, …

Turkish automotive supplier Martur Fompak International inaugurated an industrial unit in Tanger Automotive City, located in the Tanger Med industrial platform, in the presence of the Minister of Industry and Trade, Ryad Mezzour. Built on 38,487 m² of land, this plant, whose construction was supported by the Ministry of Industry …

In response to European sanctions, Russia has decided to close its airspace to 36 countries, including the 27 members of the European Union. Morocco is not affected by this measure. “In response to European states banning flights of civil aircraft operated by Russian air carriers and/or registered in Russia, a …

Chariot Oil & Gas officially obtained the Rissana offshore license in Morocco after agreeing key terms of the contract in December 2020. The formal award of the license was subject to normal Moroccan regulatory procedures and approvals. Chariot will hold a 75% stake and operate the Rissana permit, in partnership …

In its 23rd annual edition of the best investment banks in the world, the prestigious American magazine Global Finance has just elected, in New York, Attijariwafa bank as “Best investment bank in Morocco for the year 2022”, and this for the 7th consecutive year. To score and select the winners, …

After Atlanta Sanad Assurances, Holmarcom continues its development in the insurance sector in Morocco, with the launch of an Islamic insurance company. The new structure was created a few months after the entry into force of Takaful insurance in Morocco. The diversified Moroccan group, Holmarcom, has launched a new insurance …

Morocco and Israel signed, in Rabat, an economic and trade cooperation agreement with the ambition of quadrupling their trade exchanges by bringing them to more than 500 million dollars per year. “The level of economic and commercial exchanges between the two countries, which today amounts to 130 million dollars per …

Morocco will benefit from better connectivity thanks to the “Medusa” submarine cable which will link Southern Europe from Portugal to North Africa, will pass through the Kingdom of Morocco before reaching Egypt. 8,700 kilometers long, Medusa is a new generation submarine cable and follows the open cable standard and as …

Israeli Minister of Economy Orna Barbivai will travel to Morocco in the next few days for a working visit. She will be at the head of a large delegation of businessmen and industrialists. This visit aims to strengthen Israeli economic partnerships with Morocco and encourage investments in the most promising …